Ecuador raises EU shrimp import share to 36% amid competitive prices

Ecuador's share of EU shrimp imports rose to 36% between Jan. 1 and Sept. 25, from 32% during the same period a year ago, amid the most competitive farm gate prices from the world's largest shrimp exporter.

Shrimp are sold according to their size, with the largest typically commanding a premium per ton. Farms in Ecuador producing the middle-sized category -- with 30-40 units per kg -- were recently heard offered at $4.15/kg ex-works, whereas their competitors in India were offering at $4.64/kg ex-works, market participants told S&P Global Commodity Insights.

Importers of shrimp from Ecuador into the EU also enjoy lower freight rates than those from India.

Data from EUMOFA (European Market Observatory for Fisheries and Aquaculture Products) and Eurostat, the EU's statistics office, showed that a total of 343,000 metric tons of shrimp were imported into the customs union from Jan. 1 to Sept. 25, with the rate of imports accelerating since July 1.

Platts, part of Commodity Insights, assessed HOSO Shrimp CIF EU at $5,950 per metric ton Oct. 14, up $850/t from Sept. 2, when Platts launched the assessment. This reflects the tradeable value of a container of head-on, shell-on shrimp for shipment 15 to 45 days forward.

Prices in Ecuador have increased due to power outages, as electricity is vital for the filtration and processing of shrimp.